Updated May 12, 2025
Nick Wilhelmson Of RangeWater Real Estate Acquires 7.94 Acres In Austin For Rental Project
11800 Menchaca Road
Units
240
Asset Type
Development Site
Closing
Apr 14, 2025
About this deal
AI
A development site consisting of 7.94 acres located at 11800 Menchaca Road in Austin was involved in the transaction. The property is being developed for a 240-unit rental project, targeting the tech-driven population in the Austin area.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: Not disclosed
- Address: 11800 Menchaca Road
- Market: Austin
- Acres: 7.94
- Buyer: Nick Wilhelmson - RangeWater Real Estate; TMGRI
This transaction marks the second joint venture between RangeWater Real Estate and TMGRI. The project is planned to break ground in the second quarter of 2025 and will include modern amenities to support the growing populations in the region.
On the Map
Development Site
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Austin Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93